Trading Psychology – Mind over Market part 1

Do you ever feel like you are on an emotional roller coaster because of inconsistent trading results? Listen to Marc Douglas, author of the “Disciplined Trader” and “Trading in the Zone”, as he reveals the secrets behind a successful trading mindset. Since I began trading back in the financial crisis of 2008 and working with a handful of traders at all different levels of experience, there is one issue almost every trader struggles with before sustaining success (Including my self).

Admitting your are wrong and cutting your losses.

The most important change in my trading career occurred when I learned to divorce my ego from the trade. Trading is a psychological game. Most people think that they’re playing against the market, but the market doesn’t care.

You’re really playing against yourself. You have to stop trying to will things to happen in order to prove that you’re right. Listen only to what the market is telling you now. Forget what you thought it was telling you five minutes ago. The sole objective of trading is not to prove you’re right, but to hear the cash register ring.